Severfield has introduced that its order ebook for the United Kingdom and Europe has risen to a file £511m.
In a buying and selling replace this morning, the North Yorkshire-based structural metal specialist additionally introduced the appointment of a brand new non-executive chair.
Severfield stated it was once set to ship effects rather above expectancies for the three hundred and sixty five days to 30 March 2024, pushed through its efficiency in the second one part of the monetary yr.
Its £511m order ebook at 1 April marked an building up on £482m on 1 November closing yr, and £397m of the whole is because of be delivered within the subsequent yr.
Following enlargement in Europe and the March 2023 acquisition of Dutch company Voortman, continental Europe and Eire now makes up 32 consistent with cent of the company’s order ebook, in comparison with simply 13 consistent with cent six months in the past.
Web debt for the crowd on the finish of the yr stood at £10m, which Severfield stated mirrored an growth in underlying operating capital and an building up upfront bills.
It additionally introduced it intends to begin a percentage buyback programme to go back £10m to shareholders.
“The gang is acting properly, the outlook is sure and our companies are well-positioned in markets with very good long-term expansion alternatives,” the buying and selling replace stated.
“Whilst there stays some uncertainty within the wider economic system, we’re seeing an growth in marketplace prerequisites which, at the side of our high quality order books, various actions and operational supply features, supplies us with self belief for the yr forward.”
Severfield additionally introduced the appointment of Manchester Airports Team (MAG) chair Charlie Cornish as its new non-executive chair, efficient from 1 Might. Cornish – a former leader government at MAG from 2010 to 2023 – succeeds Kevin Whiteman, who’s stepping down after 9 years within the position.
Severfield senior impartial director Alun Griffiths stated: “Charlie has an excellent file of price advent, and he brings a wealth of enjoy to Severfield.”
In November, Severfield introduced a pre-tax benefit of £11m on a £215.3m turnover for the six months to 23 September 2023.
